ZHL group chairman
"The increase was in spite of disparities in growth of investment property values and rental income as well as a direct consequence of the anticipated cost saving from de-listing the group's property arm," he said.
He said during the year under review, the group made a concerted effort to implement appropriate responses to the Covid-19 pandemic.
"These responses included robust initiatives to investments, resulting in notable growth in investment income of 269 percent to
He added that among the key responses were prudent and tough decisions on costs given both the pandemic and inflation in
ZHL began the process of restructuring and repositioning itself in 2021 to include wealth creation and management both for its shareholders and the communities within which it operates.
This included the integration and reorganisation of
The group also embarked on restructuring its property portfolio and initiating new strategies to ensure portfolio optimisation.
Meanwhile, total expenses for the year at
The group recorded a profit of
He said that the strategy will be anchored by robust investment initiatives, continued consolidation of operations to capitalize on economies of scale while eliminating duplication of costs, and exploring strategic partnerships both locally and regionally to enhance its market presence.
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